Decentralized communities compete with the corporate-owned Metaverse

Jared Wolf
April 19, 2022

We saw some major Metaverse developments announced this week, highlighting the difference between centralized and decentralized projects.

NFT analyst, internet philosopher, and overall gigabrain, Punk6529, shared some exciting news this week by announcing the development of OM, an open metaverse.

  1. Open source and decentralized technologies will dominate the metaverse.
  2. Which will allow teams to build their vision of the online reality
  3. Without the metaverse being dependent on any single entity.
  4. As the alpha version of OM, 6529 unveiled the Museum District
  5. The museum district includes one of the largest and most valuable NFT collections globally, including several Fidenzas, Bored apes, CryptoPunks, and at least one piece of every other notable NFT collection.
  6. 6529 isn’t just trying to flex
  7. There will be no land sales.
  8. Single plots of land in other metaverses have fetched millions of dollars
  9. Demonstrates commitment to open-source accessible technology
  10. Expect a genuinely decentralized virtual world as disparate teams build future districts by the end of the year.
  11. The web3 community reacted favorably, given 6529’s status as a respectable web3 figure.

Meta made headlines and created quite the stir on Twitter after they announced they’d be taking 47.5% of all proceeds from sales of digital assets in their Metaverse, Horizon Worlds.

  • Other popular NFT marketplaces charge less than 3% for each transaction
  • Magic Eden takes 2% of all sales, and Opensea charges 2.5% for each transaction
  • With dedicated teams building alternative metaverses, Meta will have to deliver some novel and crucial utility to creators to justify the hefty cut from each sale.
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